Despite an overall weak market sentiment, Sati Poly Plast shares got a strong stock market debut on Monday. Sati Poly Plast shares opened trading for ₹247 on NSE SME, up 90% from the issue price of ₹130.
The Sati Poly Plast IPO listing was consistent with street estimates, given that the share price of ₹140 reflected the IPO’s grey market premium or GMP. With a premium of 107.69% over the issue price, the Sati Poly Plast IPO is expected to list for ₹270 per share, as per the GMP today.
The Sati Poly Plast IPO listing price, however, was at a premium of 90% due to the NSE’s price control cap of 90% on the issue price of SME IPOs during the pre-opening session.
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